LIVE #StateCapture: Ex-Trillian’s Eskom lead gives testimony

[ad_1]

Matthew le Cordeur

2017-10-31 09:49

A witness will give testimony regarding Trillian’s contract with Eskom at Parliament’s state capture inquiry held by the Portfolio Committee on Public Enterprises.

LIVE NEWS FEED


Jump to
bottom


Last Updated at

10:39





Former Regiments, Trillian CE gives testimony

The witness is former Regiments debt capital market
specialist Mosilo Mothepu, who worked there from 2007.

She worked with the three founding directors: Eric Wood, Litha
Nyhonyha and Niven Pillay.

She left in 2010.

Wood then asked Mothepu to come back to
work at Regiments and she got a promotion.

“The understanding of my reappointment at Regiments was to
lead the Eskom team,” she said.

Regiments and McKinsey had submitted a proposal to Eskom.

“Eric Wood needed a senior resource – me – to lead the Eskom
team,” she said.

Mr Wood and Salim Essa bought Trillian and she was transferred
there, she said.

“I was made CE of Trillian Financial Advisory from 1 March
2016.”

She resigned on 22 June 2016 as CE and on 27 June resigned
as director.

Trillian Financial Advisory was a part of the main Trillian Capital Partners firm that Wood was CEO of.




A
witness will give testimony regarding Trillian’s contract with Eskom at
Parliament’s state capture inquiry held by the Portfolio Committee on Public
Enterprises.

 

“The committee
will be briefed on the corporate governance of the contracts of Eskom and Trillian,”
the committee said in a statement. “The meeting will be held in-camera to
protect the identity of the presenters.”

 

Earlier October, Eskom said it had sought the cooperation
of global consultancy McKinsey and Gupta-linked company Trillian in returning
R1bn and R564m respectively “which appears to have been unlawfully paid out in
2016 and 2017”.

 

“The interim findings from Eskom investigations, into the
circumstances surrounding payments made to both the companies, point to certain
decisions by Eskom, and resultant payments, as being unlawful,” Eskom said in a
statement. 

 

In September, Public Enterprises Minister Lynne Brown ordered
Eskom to start taking legal steps against consultancy firms McKinsey and
Trillian, as well as suspended acting CEO Matshela Koko and chief financial
officer Anoj Singh, who is on special leave, her spokesperson, Colin Cruywagen,
said by phone.

 

An interim report by Eskom and G9 Forensic found McKinsey
and Trillian, a company linked to the Guptas, made R1.6bn in fees and expected
to make another R7.8bn, according to amaBhungane and Scorpio, two investigative
journalism groups. 

 



Read Original Article